HI I just wanted to ask is it possible to have PF less than 12% may be 6% both employers and employee contribution
From India, New Delhi
1From India, New Delhi
Dear Priyesh PF is fixed i.e 12% of the basic salary or 780 whichever is minimum. Regards Upasana
From India, Delhi
From India, Delhi
Dear Priyesh,
It is not possible to contribute less than 12% from each. Further, employer must borne the admin charges of 1.61% also. As per EPF&MP Act, 1952 the rate of contribution is 10% only in some cases of (i) Less than 20 employees. (ii) Sick Industries declared as per the Act. (iii) Company which has accumulated loss at the end of the financial year. (iv) Manufacturers of Jute, Beedi and Brick etc.,
Regards
Ramesh Vuriti
From India, Hyderabad
It is not possible to contribute less than 12% from each. Further, employer must borne the admin charges of 1.61% also. As per EPF&MP Act, 1952 the rate of contribution is 10% only in some cases of (i) Less than 20 employees. (ii) Sick Industries declared as per the Act. (iii) Company which has accumulated loss at the end of the financial year. (iv) Manufacturers of Jute, Beedi and Brick etc.,
Regards
Ramesh Vuriti
From India, Hyderabad
Dear Priyesh In case the Est is not covered under EPF Act 1952 or the Employees are excluded than their PF contribution may be at a lesser rate. Why an employee would choose to reduce his benefits?
From India, Jaipur
From India, Jaipur
HI Satish Actually I dont want to invest much in PF as i have made other investments for 80C but still want to save few bucks for future in PF.
From India, New Delhi
From India, New Delhi
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